Vice President Kamala Harris is set to endorse measures aimed at fostering the growth of digital assets, according to a senior policy adviser on her campaign.
“She’s going to support policies that ensure emerging technologies and industries can continue to grow,” stated Brian Nelson, a senior campaign adviser for policy, during a Bloomberg News roundtable at the Democratic National Convention on Wednesday. Nelson’s comments came in response to questions regarding the vice president’s engagement with the crypto community.
Some investors in the cryptocurrency space have thrown their support behind former President Donald Trump’s campaign, especially after Trump expressed his intent to reduce government regulation on the industry. Although Trump previously referred to cryptocurrency as a scam, he now holds at least $1 million in digital currency and has advocated for the U.S. to embrace the industry to avoid falling behind China.
Despite Harris’s interest in the sector, her campaign signals a commitment to maintaining safeguards in an industry that has witnessed the collapse of several high-profile companies.
“Obviously, they’ve expressed that one of the things they need are stable rules—rules of the road,” Nelson noted, referencing a recent speech by Harris that outlined the initial pillars of her economic policy.
During a campaign event in swing-state North Carolina last week, Harris did not explicitly mention digital assets. However, she pledged that, if elected president, she would focus on reducing unnecessary bureaucracy and regulatory red tape, encouraging innovative technologies while simultaneously protecting consumers and creating a stable business environment with clear and consistent regulations.
The cryptocurrency industry has expressed frustration over what it perceives as a burdensome regulatory environment under President Joe Biden’s administration. This year, the sector is looking to assert its influence more forcefully, including through significant political donations.
